Manufacturing - United States - August 2024
Paul Young
I am currently looking for Business Adviser or Financial Performance Management or ESG SME or Public Policy SME or Senior Financial Analyst or Senior Customer Success Management or Financial Solutions Expert
Source - United States Federal Government
PMI
Economic activity in the U.S. manufacturing sector contracted in August for the fifth month in a row, the Institute for Supply Management (ISM) said Tuesday.
The U.S. Manufacturing Purchasing Managers’ Index (PMI) stood at 47.2 percent in August, up 0.4 percentage points from the 46.8 percent recorded in July. Any reading below 50 percent indicates the manufacturing sector is generally contracting.
“While still in contraction territory, U.S. manufacturing activity contracted slower compared to last month. Demand continues to be weak, output declined, and inputs stayed accommodative,” Timothy Fiore, chair of the ISM’s manufacturing business survey committee, said in a statement.
Demand slowing was reflected by the New Orders Index dropping further into contraction, New Export Orders Index contracting slightly faster, Backlog of Orders Index remaining in strong contraction territory, and Customers’ Inventories Index at the “just right” level, said Fiore.
The New Orders Index registered 44.6 percent, 2.8 percentage points lower than in July. The New Export Orders Index reading of 48.6 percent was 0.4 percentage points lower than in July. The Backlog of Orders Index registered 43.6 percent, up 1.9 percentage points compared to July.
“Demand remains subdued, as companies show an unwillingness to invest in capital and inventory due to current federal monetary policy and election uncertainty,” Fiore noted.
U.S. Federal Reserve Chair Jerome Powell recently said that the “time has come” for monetary policy to adjust, sending a straightforward message to markets that the central bank will likely cut interest rates in its Sept. 17-18 meeting.
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Paul Young CPA CGA (1996)
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Paul is a former IBM Customer Success Manager that has deployed over 300 data and AI solutions across industry and geographies for the past 8 years. Paul is a Financial Planning, Analysis, and Reporting SME working with data including integration of macro and micro indicators as part of the integrated business planning and reporting cycle.
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Seeking employment - https://www.dhirubhai.net/posts/paul-young-055632b_hi-all-linked-in-followers-and-contacts-activity-7199365291288506369-qGVf?utm_source=share&utm_medium=member_desktop
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Blog – What is next for ESG Reporting – August 2024 - https://www.dhirubhai.net/posts/paul-young-055632b_introductory-to-esg-and-sustainability-reporting-activity-7233711298838978561-UB6d?utm_source=share&utm_medium=member_desktop
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Trade Analysis – Canada – July 2024 - https://www.dhirubhai.net/pulse/trade-analysis-canada-july-2024-paul-young-zamzc/
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Trade Analysis – United States – July 2024 - https://www.dhirubhai.net/pulse/trade-united-states-july-2024-paul-young-eborc/?published=t
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Working with macro and micro indicators - https://www.dhirubhai.net/posts/paul-young-055632b_financial-analyst-senior-activity-7236691942347059200-5xDV?utm_source=share&utm_medium=member_desktop
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